Adyen New Zealand delivered stronger financial results in 2025, with revenue rising by more than 40% and net profit increasing fourfold as finance income strengthened and operating cash flow turned positive.
The payments company reported revenue of NZD $11.0 million for the year ended 31 December 2025, compared with NZD $7.6 million in 2024. Net income increased to NZD $1.52 million, up from NZD $381,000 a year earlier.
Revenue growth
Revenue increased to NZD $11.0 million from NZD $7.64 million, reflecting higher activity during the year.
The highest operating cost remained expenses incurred from financial institutions, which rose to NZD $9.60 million from NZD $6.27 million. Those costs continued to account for the majority of operating expenditure as the business expanded.
Cost of goods sold fell to NZD $84,000, compared with NZD $165,000 in 2024.
Employee costs were broadly stable. Wages and salaries declined slightly to NZD $631,000 from NZD $674,000, while defined benefit expenses decreased to NZD $19,000 from NZD $29,000.
Other operating expenses increased to NZD $254,000, up from NZD $186,000 in the previous year.
Income before net finance income and income taxes improved to NZD $412,000, compared with NZD $319,000 in 2024.
Finance boost
Finance income became the main driver of earnings growth during the year.
Finance income increased sharply to NZD $1.74 million, compared with NZD $215,000 a year earlier. Finance expense totalled NZD $6,000, resulting in net finance income of NZD $1.74 million.
The higher finance income lifted income before tax to NZD $2.15 million, compared with NZD $534,000 in 2024.
After recording an income tax expense of NZD $625,000, Adyen New Zealand reported net income of NZD $1.52 million. That compared with NZD $381,000 in the previous year.
No other comprehensive income or expense was recognised during either reporting period, leaving total comprehensive income at NZD $1.52 million.
Financial position
The company ended the year with a stronger balance sheet, supported by higher cash balances and retained earnings.
Cash and cash equivalents increased to NZD $26.65 million from NZD $12.73 million. Receivables from merchants and financial institutions rose to NZD $4.06 million, compared with NZD $1.20 million a year earlier. Trade and other receivables declined significantly to NZD $372,000 from NZD $10.26 million, reducing total outstanding receivables.
Total current assets increased to NZD $31.08 million, while total assets reached NZD $31.09 million, up from NZD $24.21 million in 2024.
On the liabilities side, payables to merchants and financial institutions increased to NZD $24.56 million, compared with NZD $20.91 million in the previous year.
Trade and other payables rose to NZD $3.32 million from NZD $1.84 million. Current income tax payable increased to NZD $469,000, up from NZD $244,000.
Total current liabilities stood at NZD $28.35 million, compared with NZD $22.99 million at the end of 2024.
Equity strengthened during the year as profits were retained within the business. Total equity increased to NZD $2.74 million, more than double the NZD $1.22 million reported a year earlier. Retained earnings rose to NZD $2.73 million, while share capital remained unchanged at NZD $10,000.
Cash generation
The company also reported a significant turnaround in operating cash flow.
Cash generated from operations reached NZD $14.25 million, reversing the NZD $57.82 million used in operations during 2024.
The improvement reflected favourable movements in working capital. Trade and other receivables decreased by NZD $9.89 million, while payables to merchants and financial institutions increased by NZD $3.66 million. Trade and other payables also rose by NZD $3.14 million.
After finance income received of NZD $74,000 and income tax payments of NZD $403,000, net cash from operating activities totalled NZD $13.92 million. The previous year recorded a net operating cash outflow of NZD $57.65 million.
The stronger operating performance lifted year-end cash and cash equivalents to NZD $26.65 million, compared with NZD $12.73 million at the end of 2024.